but can it make money? And how big will it get?
J.C. Penney offers a Big and Tall subscription, Amazon a Prime Wardrobe service and Ann Taylor an apparel rental that mirrors Rent the Runway's cheaper subscription option, while Ikea is testing furniture leasing. The market is growing rapidly, according to GlobalData Retail. "In the US, we estimate that the apparel rental market will be worth $1.28 billion this year, that's up by 28.9% over 2018 (note, this does not include costume rental such as for Halloween)," GlobalData Retail Managing Director Neil Saunders told Retail Dive in an email. "That said, this is still only around 0.3% of all clothing spend, so it's a small part of the market."